Having looked at income, we now turn to expenditure. Here, there is tends to be more certainty, especially with regard to fixed costs (the costs we incur whether or not…
As I said in the introduction to accounting statements, the profit and loss (P&L) statement provides an historical picture of how our business has performed over a given time period….
Last week, we looked at how to keep records of income; now we’re going to look at recording our expenditure. Then we’ve got the two sides of the equation: we…
[This week’s post is specific to the UK; the principles apply in most countries but the specifics vary, so non-Brits need to review the requirements with your national authorities]In my…
One of the questions to be resolved when setting up any small business is which structure is the most appropriate? There are a number of options including: self-employment; partnerships; limited…
[By pure co-incidence, fellow-writer Patsy Collins has also been blogging about the same topic this week, although she is talking about the provision of free books for Kindle. Read her…
One phrase that is often quoted by experienced business people is: turnover is vanity; profit is sanity. The long-term objective of any small business is to be successful, otherwise why…